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8/3, 6:31 AM (Source: TeleTrader)
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RBA holds key interest rates

Reserve Bank of Australia (RBA) revealed on Tuesday it decided against adjusting its monetary policy setting in August.

The targets for the cash rate, as well as the three-year Australian Government Securities (AGS) bonds, will remain at 10 basis points, not changing when compared to last month's data.

"The economic recovery in Australia has been stronger than was earlier expected," said RBA Governor Philip Lowe. "The economic outlook for the coming months is uncertain and depends upon the evolution of the health situation and the containment measures. Beyond that, the Bank's central scenario is for the economy to grow by a little over 4% over 2022 and by around 2.5% over 2023," the governor also noted.

Breaking the News / NL